People walking at the London financial district. — Reuters
London: Firms across Britain are “in damage control” with nearly half planning to cut jobs after the Labour government’s tax-raising budget, according to the boss of the country’s most influential business lobby group, the Confederation of British Industry (CBI).
Chancellor of the Exchequer Rachel Reeves increased taxes by more than £40bil or about US$50bil last month, most of which will come from changes to national insurance, a payroll levy.
